Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
23 February, 2018 15:55 IST
Sell USD/INR July futures in 64.50-64.60 range: ICICIdirect
Source: IRIS | 17 Jul, 2017, 09.06AM
Comments  |  Post Comment

ICICIdirect expects the US dollar to meet supply pressure at higher levels. ''Utilise upsides in the pair to go short on the USDINR pair. July futures in the range of 64.50-64.60 with target 64.25-64.15.'' 

The rupee posted its first weekly rise in five weeks against the USD, as foreign fund inflows rose amid broad dollar weakness after Federal Reserve Chair Janet Yellen's less hawkish comments on the pace of US interest rate hikes.

The USD fell sharply against major currencies weighed down by a downtick in USU inflation growth rate. June core CPI YoY growth fell to 1.6% from 1.7% seen in May ahead of Fed Monetary policy meeting next week. Japanese Yen and Euro continue to post gains while the pound also rose on expectations of hawkish BoE assessment next month.

In the currency futures market, the most traded dollar-rupee July contract on the NSE ended at 64.54. The July contract open interest increased 2.78% from the previous day. August contract open interest increased 8.03% in the previous session.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
MCX enhances maximum compensation limit to Rs 2.5 mn - 23-Feb-2018 10:31
Reliance Infra wins EPC contract worth Rs 36.47 bn - 23-Feb-2018 10:04
Larsen & Toubro bags orders worth Rs 12.66 bn - 23-Feb-2018 09:33
Vascon Engineers inks deal with Lina Ashar Foundation - 22-Feb-2018 13:15
Tata Comm partners with Taiwan's Chunghwa Telecom - 22-Feb-2018 10:57
Godrej Properties adds new residential project in Gurgaon - 22-Feb-2018 10:22
Indian Hume Pipe Co secures work order worth Rs 1.35 bn - 22-Feb-2018 10:15
Glenmark Pharma enters into collaboration with SDC Pharma - 22-Feb-2018 09:39
Lupin launches generic Namenda XR capsules in US - 21-Feb-2018 16:00
Lupin gets USFDA nod for generic Tamiflu for oral suspension - 21-Feb-2018 14:27
SSWL wins exports order from German OEM-BMW - 21-Feb-2018 12:15
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer